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- Online Side Hustles - Exploding Idea
Happy Sunday,
This week we’re getting into a market that’s been growing since 2022. This is a cyclical trend that is super easy to build a business around if you’re strategic.
Now let’s get into it…
This weeks exploding idea: Online Side Hustles
New business ideas: 3 Online Side Hustle businesses you can start
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Read time: 1 min 20 sec
Exploding Idea: Online Side Hustles
Interest in online side hustles has surged since 2022.
The trend is driven by economic pressures, despite optimistic reports from the government and media. People globally are turning to online side hustles to supplement their income.
What’s an Online Side Hustle?
Online side hustles are additional income streams that people can engage in outside of their primary job, utilizing the internet. These opportunities offer flexibility, allowing people to work on their own schedule and often from the comfort of their own home. Online side hustles can provide additional income streams and sometimes even evolve into full-time ventures.
The surge in searches for online side hustles is directly correlated with rising interest rates. As interest rates in the United States increased, so did the interest in online side hustles. This trend is likely due to the economic disruptions caused by the pandemic, which led to asset bubbles and subsequent layoffs. As fear spread throughout the economy, many people either lost their jobs or feared potential layoffs, driving them to seek financial independence and stability through online side hustles.
The Opportunity
Exploding Ideas capitalizes on this trend by offering online business ideas through a newsletter and YouTube channel. Here's how the process works:
Content Creation: Produce high-quality, informative content on platforms like YouTube and Reddit. For instance, a video on making money with AI music garnered 15k views in just a month.
Funneling Traffic: Direct your audience from these platforms to your free newsletter, building a loyal community.
Monetization: Once you have a substantial following, introduce monetized content such as paid newsletters, affiliate marketing, and courses.
Creating a business centered around helping others start their side hustles or businesses is promising in this market.
For example, acquire.com connects entrepreneurs looking to buy and sell their SaaS startups. Replicating this marketplace model for other types of online businesses, such as newsletters or Shopify apps, can be highly successful. Providing real value and support will help you gain a large following and create substantial income streams while in a downmarket.
Learn how to monetize this trend in the Deep Dive (link here)
What did you think of this idea? |
Business Idea #1
Business Name: AI Side Hustle Academy
Industry: Online Education and Content Creation
Problem: The complexity and perceived technical barriers of AI deter people from exploring its potential as a source of income. This gap leaves a vast opportunity untapped for those seeking flexible and innovative ways to generate additional income.
Solution: AI Side Hustle Academy is a YouTube channel dedicated to teaching people how to create and manage side hustles using AI. The channel offers step-by-step tutorials, case studies, and practical advice on utilizing AI tools and technologies to develop profitable side hustles.
Business Idea #2
Business Name: Side Hustle Success Stories
Industry: Online Education and Content Creation
Problem: Aspiring side hustlers often struggle to find credible and detailed examples of individuals who have successfully built online side hustles. This lack of real-world case studies makes it difficult for them to visualize the path to success and understand the practical steps involved in launching and growing a side hustle.
Solution: Side Hustle Success Stories is a newsletter dedicated to sourcing and sharing in-depth case studies of people who have successfully built online side hustles. Each edition of the newsletter features a comprehensive profile of a successful side hustler, detailing their journey, strategies, challenges, and achievements.
Business Idea #3
Business Name: AI Hustle Market
Industry: Online Marketplace and Technology
Problem: Many individuals interested in starting AI-based side hustles face significant barriers in developing and launching their own applications. Conversely, developers with completed AI apps often struggle to find a marketplace to sell their products.
Solution: AI Hustle Market is an online marketplace where individuals can buy and sell AI applications, enabling users to purchase ready-made AI apps to start their own side hustles or sell their developed apps to a wider audience. The platform provides a seamless buying and selling experience, with features such as detailed app listings, user reviews, and secure transactions. By connecting developers with entrepreneurs, AI Hustle Market facilitates the growth of AI-driven side hustles.